GlossaryIntermediate
Private Key
A secret piece of data that proves ownership of crypto assets and authorizes transactions.
A private key is a secret string of data that allows its holder to authorize transactions from a given address on a blockchain. Anyone with access to a private key can control the assets associated with it.
Because possession of a private key is equivalent to control over the associated assets, keeping it secret and secure is one of the most important responsibilities for anyone holding cryptocurrency.
Examples
- A wallet uses a private key behind the scenes to digitally sign an outgoing transaction.
- A seed phrase is a human-readable backup that can be used to recreate a wallet's private keys.